Community banks nationwide are set to receive millions of dollars' worth of credit as a result of the Federal Deposit Insurance Corporation filling its insurance fund for the first time since the 2008 financial crisis.

A recently released federal report says the New Orleans-based bank had a dominant leader with broad lending authority and limited oversight, rapid growth funded by high-cost deposits, large lending relationships and a lack of adequate management controls to mitigate the risks.

U.S. banks' earnings jumped 7.3 percent in the April-June period from a year earlier as revenues increased and the volume of soured loans banks had to write off fell to the lowest level since before the financial crisis.